Intermediate MICROEconomics

 

Fall 2010                                                                                 

ECON 301 (003)

MWF 10:30-11:20

Webster 104               

Professor SH Lee

 

Course Description: Economics is broadly defined as a way of thinking about problems of allocation and decision-making. This course entails the use of intermediate microeconomic theory in the analysis of problems facing decision-makers, such as individual, business, and government.  Topics include demand and supply, consumer behavior, market demand, choice under uncertainty, production and cost, market supply, analysis of competitive markets, monopoly theory, monopolistic competition and oligopoly, game theory, factor markets, and market failure.

 

Prerequisite: ECON 130/131.

 

Student Learning Outcome: Upon completion of this course, students are expected to 1) explain terms, concepts, and theories of microeconomics, 2) apply the knowledge of microeconomics to some of real world problems, and 3) conduct economic analysis using graphs and equations.

 

Textbook: Microeconomics (7th ed) by Pindyck and Rubinfeld (Prentice Hall) is required for the course and it is available in the bookstore.


Grading:  1 mid-term exam                             30%

                1 final exam                                  40%

                8 homework and attendance            30%

 

There will be two midterm exams and one final exam. One mid-term exam accounts for 30% and the final exam accounts for 40% of the final grade. Eight homework assignments and class attendance are worth 30% of the final grade.  Those homework assignments are designed to help you prepare more effectively for the exams as well, and the answers will be discussed in class.  Those homework assignments are due at the beginning of the class. Grade is based on +/- system.

 

Exam Policy: Mid-term exam is scheduled at our regular class time on October 15th (Friday). Final exam is scheduled on December 17th (Friday) between 9:45-11:45AM. Final exam is cumulative. You will receive grade 0.0 if you miss any exams. There will be no makeup exams. There is no exception.

 

Help: Office Hours: MW 9:00-10:00 AM or by appointment

          Office: Saunders 512,    Phone: 956-8590

          E-mail: Leesang@hawaii.edu

          Web: www2.hawaii.edu/~leesang/

 

 

Schedule

 

Ch.2     Supply and Demand                                 

Ch.3     Consumer Behavior-Preferences                                       

Ch.3     Consumer Behavior-Budget Constraint

Ch.3     Consumer Choice 

Ch.4     Individual and Market Demand                                     

Ch.5     Uncertainty and Consumer Behavior

Ch.6     Production-Short Run

Ch.6    Production-Long Run

Ch.6     Production-Returns to Scale

Ch.7     Costs-Short Run

Ch.7    Costs-Long Run

Ch.8     Competitive Market-Production Decision

 

Midterm Exam: October 15th (Friday) 10:30-11:30 AM

 

Ch.9     Analysis of Competitive Market

Ch.9     Consumer Surplus vs. Producer Surplus

Ch.10   Monopoly

Ch.11   Pricing with Market Power

Ch.12   Oligopoly and Monopolistic Competition

Ch.13  Game Theory

Ch.14  Input Markets

Ch.15   Input Markets-Investment Decision

Ch.16  General Equilibrium

Ch 17  Markets with Asymmetric Information

Ch.18   Externalities and Public Good

 

Final Exam: December 17th (Friday) 9:45-11:45 AM